DFINITY Raises over $75 Million CAD to Create Decentralized Internet

DFINITY wants to shift from Bitcoin, and Ethereum’s “The Code is Law,” a paradigm where there is no governance that regulates the platform and underlying network, to “The AI is Law”. Instead of a completely decentralized structure, AI technology analyzes the crowds’ knowledge and information to form rules and structures. With governance in place, DFINITY can create a new blockchain network that is highly appealing and applicable to businesses.

The AI will provide a solid framework to freeze any smart contracts that harm the interests of those using the platform. Eventually, it will also mitigate the effects of hacks on the systems, continuously optimize the network’s security, and perform consistent upgrades on its underlying protocol and software without causing disruption to users on the network.

Perhaps it’s the fault of the article author, but this all sounds ridiculous. They start by saying they want to build a new internet, but then talk about smart contracts and a yet to be defined blockchain and an AI and how their magic AI is going to know when to not honor a smart contract that would end up harming the business. Damn, I want an AI to enforce all my contracts too, if it results in my never having to honor a contract that goes against me. Sign me up! Somehow, I feel that they are being optimistic that anybody will port over their business logic to their magic AI. Seems like pretty ambitious goals that will take decades. Again, perhaps it’s the fault of the article writer, but it seems like they just vomited up every tech meme they could think of and put them all into a single package.